Japan Mar Tertiary Industry Index (MoM) decreases to -1.3% vs 1.1%
May 15, 2013
Commodities Brief: Precious metals struggles as US Dollar Index adds to gains
It was another tough day for commodities with gold, silver, and oil all closing in the red. The US Dollar Index was well bid throughout the session, closing at its highest level since late August. Equities once again were the outperformers, with the S&P 500 gaining 1.04%, to close at a new all time high of 1650.34.
USD/JPY is last at 102.17, near session lows, off recent fresh 4.5-year highs at 102.48, highest since Oct 2008, printed by NY close on broad USD demand. There seems to be an option protection barrier at the 102.50 handle, FXBriefs reports: “I am told there is fix related demand today for USD/JPY at the Tokyo fix (00:55 GMT),” notes editor Peter Fell, adding: “Stops are placed above the 102.50 barrier, sell orders between 102.75/90 and buy orders are seen between 101.70/80.”